Nicholas Hoffman & Company LLC. acquired a new stake in shares of Oracle Co. (NYSE:ORCL) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,463 shares of the enterprise software provider’s stock, valued at approximately $216,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. First National Bank of South Miami increased its stake in shares of Oracle by 104.6% in the fourth quarter. First National Bank of South Miami now owns 489 shares of the enterprise software provider’s stock valued at $26,000 after buying an additional 250 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new stake in shares of Oracle in the fourth quarter valued at $26,000. Samalin Investment Counsel LLC acquired a new stake in shares of Oracle in the fourth quarter valued at $27,000. Solstein Capital LLC acquired a new stake in shares of Oracle in the fourth quarter valued at $33,000. Finally, ERTS Wealth Advisors LLC acquired a new stake in shares of Oracle in the fourth quarter valued at $36,000. 50.64% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on the company. BMO Capital Markets lowered their target price on Oracle from $62.00 to $46.00 and set a “market perform” rating for the company in a research note on Friday, March 13th. Raymond James lowered their price objective on Oracle from $61.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, March 13th. Wells Fargo & Co lowered their price objective on Oracle from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. Sanford C. Bernstein reiterated a “buy” rating and issued a $58.00 price objective on shares of Oracle in a research report on Friday, March 13th. Finally, Societe Generale upgraded Oracle from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $62.00 to $61.00 in a research report on Wednesday, March 4th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $53.57.
Oracle (NYSE:ORCL) last issued its earnings results on Thursday, March 12th. The enterprise software provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Oracle had a return on equity of 64.68% and a net margin of 27.06%. The business had revenue of $9.80 billion during the quarter, compared to analysts’ expectations of $9.75 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Sell-side analysts anticipate that Oracle Co. will post 3.47 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 23rd. Shareholders of record on Thursday, April 9th were issued a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, April 8th. This represents a $0.96 dividend on an annualized basis and a yield of 1.82%. Oracle’s payout ratio is presently 30.38%.
Oracle declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the enterprise software provider to buy up to 9.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
In related news, Director Charles W. Moorman purchased 10,000 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was bought at an average price of $45.23 per share, with a total value of $452,300.00. Following the completion of the purchase, the director now owns 18,561 shares in the company, valued at approximately $839,514.03. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Safra Catz sold 1,000,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $51.73, for a total value of $51,730,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,368,592 shares of the company’s stock, valued at approximately $122,527,264.16. The disclosure for this sale can be found here. 36.60% of the stock is owned by corporate insiders.
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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